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Jan 31, 2013
01/13
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obama issued a number of executive orders. >> bret: consumer spending slowed in desplat pite holiday season. income surged by 2.6%. the dow is down for second day in a row, falling 50 points. the s&p 500 dropped four. the nasdaq was off a fraction. senate signed off on pushing the debt limit deadline to may. senators prove the house bill that also includes provision some insiders are calling a bad idea whose time has come. chief political correspondent tells us more. >> they approved the house back no, budget no, pay bill with the current debt ceiling of $64 trillion in mid-may when it is estimated to be $50 million more. the house and senate have to pass budget by mid-april or member paychecks will be held. >> the united states could default on the obligation every few months. not an ideal way to run a government. a short-term solution is better than another imminent manufacturered crisis. >> house republicans passed budget in the obama era and created the salary threat so senate democrats who have not do so this year. >> republicans tried to pass amendments that prioritize payments
obama issued a number of executive orders. >> bret: consumer spending slowed in desplat pite holiday season. income surged by 2.6%. the dow is down for second day in a row, falling 50 points. the s&p 500 dropped four. the nasdaq was off a fraction. senate signed off on pushing the debt limit deadline to may. senators prove the house bill that also includes provision some insiders are calling a bad idea whose time has come. chief political correspondent tells us more. >> they...
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Feb 1, 2013
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no one was particularly excited even the people who were in his camp when it comes to defense spending. >> i mean, the main reason for this nomination was to stick a finger in john mccain's eye. they have succeeded in that. >> do you really think that? >> i don't think it's between obama and hagel. >> not the only -- >> i hope it's not. >> you -- you've -- you're known to orbit around the white house from time to time. >> right. >> when the soup of the day is particularly tasty. i'm kidding. this is all out of love. glen -- >> potato cheddar. >> do you buy that line of argument from ben that this is sticking a finger in john mccain's eye, the hagel nomination, because we've been led to believe that there is a close saysness and a rep twar between the president and chuck hagel and that's why -- >> there are a lot of fingers being stuck in various eyes here. one of the other ones is apac, the fact that they got apac to sit on their hands on this nomination, and the israel, not the jewish lobby, hasn't really weighed in in a meaningful way on this is a big deal for the white house, but, y
no one was particularly excited even the people who were in his camp when it comes to defense spending. >> i mean, the main reason for this nomination was to stick a finger in john mccain's eye. they have succeeded in that. >> do you really think that? >> i don't think it's between obama and hagel. >> not the only -- >> i hope it's not. >> you -- you've -- you're known to orbit around the white house from time to time. >> right. >> when the soup...
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Jan 27, 2013
01/13
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. >> tomorrow on washington journal we'll talk about president obama's use of executive power. then a look at climate change on legislation and congress. and later a discussion about dop mat i can security worldwide with former interior to algeria ronald knewman. >> we've created a platform that we call digital health feedback system. and the main components of that platform are a sensor you swallow. it sends information to a wearable patch on your torso that collects information about the medicines you swallow and your heart rate and sleep,temperature, a lot of things what we call a panel of fiss logical and it commune indicates with a blue tooth phone you carry and it can help you manage your own health. >> i think we're at an inflection point. we've had all these incrementle amazing changes over the last five years and now we're poised to make great leeps in these complex disease. our understanding of cancer the last five years as dwarfed the last 25 and the next ten years will take us into some amazing advances. >> technology mont night on the communicate tors at 8:00 easte
. >> tomorrow on washington journal we'll talk about president obama's use of executive power. then a look at climate change on legislation and congress. and later a discussion about dop mat i can security worldwide with former interior to algeria ronald knewman. >> we've created a platform that we call digital health feedback system. and the main components of that platform are a sensor you swallow. it sends information to a wearable patch on your torso that collects information...
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Feb 1, 2013
02/13
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but president obama's remarks three years ago are so true to this day. >> last week the supreme court reversed a century of law that i believe will open the floodgates for special interests, including foreign corporations, to spend without limit in our elections. >> to spend without limit in our elections. let's bring in msnbc political analyst and bloomberg view columnist jonathan alter. great to have you with us tonight. it's a new age of politics. it's all about the money. the democrats are in this game, but we know many of them, it turns their stomach to do it. is it a must? >> it is, unfortunately. it's a necessary evil. otherwise, you're fighting with one hand tied behind your back. now, the thing to understand is that taking back the house for the democrats is not likely to happen in 2014 because of the way these congressional districts have been drawn. >> isn't that amazing? that's just amazing to think about that. >> you have to take a state like pennsylvania, which is a blue state. went for obama both times. they have 13 republican congressmen and 6 democratic congressmen. t
but president obama's remarks three years ago are so true to this day. >> last week the supreme court reversed a century of law that i believe will open the floodgates for special interests, including foreign corporations, to spend without limit in our elections. >> to spend without limit in our elections. let's bring in msnbc political analyst and bloomberg view columnist jonathan alter. great to have you with us tonight. it's a new age of politics. it's all about the money. the...
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Jan 26, 2013
01/13
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i think the republicans should spend less time complaining about president obama and his intentions and more time to thinking about what they can solve and where they can work with him and where they really can fight and should fight him and really try to do some good for the country by mitigating the damage he is doing. and where they cannot mitigate the damage, they can set a fire say we are confident the public will see the failure of president obama's policies and we will get a real alternative. host: this tweet -- jeb bush of florida has this in the wall street journal this morning on solving the immigration puzzle. jeb bush says there is no line. guest: i would be with him. and i thought that romney's attacks on rick perry and newt gingrich were not fair on immigration. mitt romney was supposed to be the moderate candidate and rick perry was the right-winger. rick perry was the one who was more forward-looking and more liberal on immigration, which would have served the party better. romney by pandering to what he thought or parts of the republican base on immigration. when he men
i think the republicans should spend less time complaining about president obama and his intentions and more time to thinking about what they can solve and where they can work with him and where they really can fight and should fight him and really try to do some good for the country by mitigating the damage he is doing. and where they cannot mitigate the damage, they can set a fire say we are confident the public will see the failure of president obama's policies and we will get a real...
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Jan 29, 2013
01/13
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the gang of eight bill will be the main vehicle with president obama's backing. if you need an example of why republicans need to get on this issue, nevada started the 2012 election as a swing state. by the end of it neither party was spending money there because the hispanic community was so aligned with the democratic candidate that mitt romney couldn't compete. it went the way of new mexico in 2008, and i think republicans recognized that this is a first step. simply signing on to immigration reform doesn't mean they're going to win 70% of the hispanic vote, but they need to get this issue behind them because electorally speaking they would struggle for a decade or two decades if they don't. sxwro we've seen a mood swing. republicans know they have to get right on this, and this is why you're seeing this coalition come together so quickly. there's support for it. there's a new cbs news poll that shows that a majority, 51%, believe in a path to sit sfwlenship. there's only 24% that say the undocumented immigrant should get out. >> that will be one of the final
the gang of eight bill will be the main vehicle with president obama's backing. if you need an example of why republicans need to get on this issue, nevada started the 2012 election as a swing state. by the end of it neither party was spending money there because the hispanic community was so aligned with the democratic candidate that mitt romney couldn't compete. it went the way of new mexico in 2008, and i think republicans recognized that this is a first step. simply signing on to...
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Jan 24, 2013
01/13
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bush, more spending. obama, less spending. that is what is true. >> it's clear the president is not serious about cutting spending. but spending is the problem. >> we've got to stop the president on this issue. he is an out-of-control train right now on spending. >> the president remains committed to an agenda that calls for ever higher spending, a government that is out of control. >> the president wants to pretend that spending isn't the problem. >> it is a spending problem. and the president wants to increase taxes to continue the spending. >> these democrats are going to spend us right into bankruptcy. they're not serious about getting things under control and stopping the spending. >> the white house is so unserious about cutting spending. >> none of that is true. i mean, to the extent that true means attached to facts. here is spending under bush. here is spending under clinton. here is how spending has dropped under president obama. these guys were not mad about george w. bush's big spike in spending, buzz they have dec
bush, more spending. obama, less spending. that is what is true. >> it's clear the president is not serious about cutting spending. but spending is the problem. >> we've got to stop the president on this issue. he is an out-of-control train right now on spending. >> the president remains committed to an agenda that calls for ever higher spending, a government that is out of control. >> the president wants to pretend that spending isn't the problem. >> it is a...
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Jan 30, 2013
01/13
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that was our spending. president obama an estimate will be $3.6 trillion. that is an increase of 44%! 44% increase in spending. that doesn't look like a problem to you? >> what i would love to have the just that position of job creation, we created 5 million jobs in the united states. if you were saying it's worse but the five million people are saying it is worth it. >> eric: you are saying there is five million jobs created? >> from the low point. >> that is different. >> he was in office. i think, come on eric, we spent 5.8 t78d and we have a negative growth rate. >> this the first quarter we've had a negative growth rate. we a super storm sandy and lots of fiscal negotiations. i think we're probably going to have close to 3% growth rate of 2013. the recovery is coming along, but it's not coming as fast as anybody would like it but it is coming. >> eric: we'll leave it there. no major sell-off on white house despite the news. the dow still flirting with 14,000. sandra smith keeping an eye on it all. i'm looking down 44 on the day where we have negative g
that was our spending. president obama an estimate will be $3.6 trillion. that is an increase of 44%! 44% increase in spending. that doesn't look like a problem to you? >> what i would love to have the just that position of job creation, we created 5 million jobs in the united states. if you were saying it's worse but the five million people are saying it is worth it. >> eric: you are saying there is five million jobs created? >> from the low point. >> that is different....
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Jan 31, 2013
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it's in the journal, which is that part of obama care allows caps on precipitation drug spending, and some unions, apparently, are just realizing this. and they're pushing back on the administration to make sure they don't have these caps, because they're saying, that's going to drive up our medical costs, our health care costs, more than we thought, which means, we're going to be less competitive in the marketplace. so according to the journal, the unions are pushing back on the obama administration about this cap. and they're asking for federal subsidies on top of their work insurance. >> all right. and let's talk about facebook now. they've just had a brutal year. but some pretty good news in the fourth quarter. >> hey, the stock is up 70%, 7-0, since september, joe. mobile ad revenue is up. that's what everyone wants to see. 70% the stock is up since september. mobile ad revenue up 23%, which is accelerating. look around the table, okay. mika with her iphone, iphone -- >> soon to be samsung. >> barnicle, you've got an abacus, i've got an iphone, but there's two laptops. that's the
it's in the journal, which is that part of obama care allows caps on precipitation drug spending, and some unions, apparently, are just realizing this. and they're pushing back on the administration to make sure they don't have these caps, because they're saying, that's going to drive up our medical costs, our health care costs, more than we thought, which means, we're going to be less competitive in the marketplace. so according to the journal, the unions are pushing back on the obama...
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Jan 25, 2013
01/13
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i think the republicans should spend less time complaining about president obama and his intentions and more time to thinking about what they can solve and where they can work with him and where they really can fight and should fight him and really try to do some good for the country by mitigating the damage he is doing. and where they cannot mitigate the damage, they can set a fire say we are confident the public will see the failure of president obama's policies and we will get a real alternative. host: this tweet -- jeb bush of florida has this in the wall street journal this morning on solving the immigration puzzle. jeb bush says there is no line. guest: i would be with him. and i thought that romney's attacks on rick perry and newt gingrich were not fair on immigration. mitt romney was supposed to be the moderate candidate and rick perry was the right-winger. rick perry was the one who was more forward-looking and more liberal on immigration, which would have served the party better. romney by pandering to what he thought or parts of the republican base on immigration. when he men
i think the republicans should spend less time complaining about president obama and his intentions and more time to thinking about what they can solve and where they can work with him and where they really can fight and should fight him and really try to do some good for the country by mitigating the damage he is doing. and where they cannot mitigate the damage, they can set a fire say we are confident the public will see the failure of president obama's policies and we will get a real...
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Jan 27, 2013
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those are cuts to military and discretionary spending. paul ryan says don't expect a last minute deal or any deal at all. >> i think the sequester is going to happen because that $1.2 trillion in spending cuts we can't lose those. >> joining me now lynn sweet and david who covers the white house for the washington post. good sunday to both of you. let's start with the claim from paul ryan. $1.2 trillion in cuts said to take effect march 1. paul ryan indicating this time there will be no 11th hour deal. >> it is just a bargain position and it is not going to necessarily unfold that way. there are no absolute right now. it is early in yet another chapter of the on going rangles we have been having. so i would put no more into it. it is a prediction and i don't think either side has anything to gain. remember the virginia economy, a lot of places very dependent on defense and other industries, neither side will look good if they cannot make an agreement. it is a prediction but one that i don't necessarily think will be true. >> david cuts wo
those are cuts to military and discretionary spending. paul ryan says don't expect a last minute deal or any deal at all. >> i think the sequester is going to happen because that $1.2 trillion in spending cuts we can't lose those. >> joining me now lynn sweet and david who covers the white house for the washington post. good sunday to both of you. let's start with the claim from paul ryan. $1.2 trillion in cuts said to take effect march 1. paul ryan indicating this time there will...
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Jan 31, 2013
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when are we going to have any new spending cuts? this would at least start in a modest way reasonable spending cuts. thank you, madam president. the presiding officer: would the senator call up his motion. mr. vitter: yes, madam president. i call up the motion to commit. the presiding officer: the clerk will report. the clerk: the senator from louisiana, mr. vitter, moves to commit the bill, h.r. 325, to the -- mr. vitter: madam president, i ask to waive reading of the whole. the presiding officer: without objection. mr. baucus: madam president? the presiding officer: the senator from montana. mr. baucus: madam president, we've -- we've essentially already voted on this. this is very similar to the portman amendment which lost by a vote of 54-44. this approach was rejected by the house of representatives when the speaker sent over his debt increase to us which gives us breathing room. we tried this approach suggested by the senator in august of 2011. it didn't work. this moves us backward, not forward. and i think we should give pra
when are we going to have any new spending cuts? this would at least start in a modest way reasonable spending cuts. thank you, madam president. the presiding officer: would the senator call up his motion. mr. vitter: yes, madam president. i call up the motion to commit. the presiding officer: the clerk will report. the clerk: the senator from louisiana, mr. vitter, moves to commit the bill, h.r. 325, to the -- mr. vitter: madam president, i ask to waive reading of the whole. the presiding...
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Jan 31, 2013
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they don't really want to talk about a contraction on president obama's watch. republicans aren't really comfortable with the idea that austerity -- that these big huge defense cuts and government spending cuts that we've seen can have a drag affect on the gdp going into the see sequester debate. both sides are uncomfortable with this number, and that's why we probably won't see it discussed for more than a news cycle or two. then we'll move on. >> affect show it's a kabarb. >> this is the very last time anybody will talk about this number in washington right here. >> we're making history. >> right. >> rona, the, sequestration debate, armageddon, whatever you want to call it, has been tossed around in a variety of different fashions, especially on the right because initially it was seen -- we cannot do this. defense cuts disproportionately hurt the gop, and, yet, now there is sort of maybe the sense that they will let sec west rags go ahead. mr. boehner says he has significant republican support, including gop defense hawks, on the side of letting the gop work.
they don't really want to talk about a contraction on president obama's watch. republicans aren't really comfortable with the idea that austerity -- that these big huge defense cuts and government spending cuts that we've seen can have a drag affect on the gdp going into the see sequester debate. both sides are uncomfortable with this number, and that's why we probably won't see it discussed for more than a news cycle or two. then we'll move on. >> affect show it's a kabarb. >> this...
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Jan 28, 2013
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does president obama want to destroy the republican party? >> obviously republicans want to make sure the entitlement programs are here for future generations. right now for every dollar we spend on young people we are spending four dollars on seniors. right now in medicare the average person pays for one third of the cost of the medicare program. now, dick durbin for what it is worth has been one of those people willing sit down and solve that problem and i congratulate him on that. as far as the president's goal of annihilating the republican party. i will say that i was glad to see that the house was unified behind something recently as it relates to the fiscal issues and i think that is a backstop to that. the fact is the one thing the president didn't mention in his speech was the major fiscal issue that our nation faces. it was everything but that and to me that was disheartening. it is the one issue that before anything else we need to put in the rear view mirror to make our country stronger. >> chris: senator durbin you are a member o
does president obama want to destroy the republican party? >> obviously republicans want to make sure the entitlement programs are here for future generations. right now for every dollar we spend on young people we are spending four dollars on seniors. right now in medicare the average person pays for one third of the cost of the medicare program. now, dick durbin for what it is worth has been one of those people willing sit down and solve that problem and i congratulate him on that. as...
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Jan 24, 2013
01/13
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this role, if confirmed, is also deeply informed by the 28-plus years that i have been privileged to spend in the senate. that percent specht tiff will remain with me if confirmed as secretary. and i'm already excited by the many ways that we can work together, and in which we must work together in order to advance america's security interests in a complicated and ever more dangerous world. i would add that i'm particularly aware that in many ways the greatest challenge to america's foreign policy will be in your hands, not mine, because while it's often said that we can't be strong at home if we're not strong in the world, in these days of fiscal crisis, and as a recovering member of the super committee, i am especially cognizant of the fact that we can't be strong in the world unless we're strong at home. and the first priority of business, which will affect my credibility as a diplomat, and our credibility as a nation, as we work to help other countries create order, the first priority will be that america at last puts its own fiscal house in order. i really can't emphasize to you enoug
this role, if confirmed, is also deeply informed by the 28-plus years that i have been privileged to spend in the senate. that percent specht tiff will remain with me if confirmed as secretary. and i'm already excited by the many ways that we can work together, and in which we must work together in order to advance america's security interests in a complicated and ever more dangerous world. i would add that i'm particularly aware that in many ways the greatest challenge to america's foreign...
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Jan 29, 2013
01/13
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how the obama campaign is pushing its agenda with your private information. plus, how can washington ever get a handle on spending if they don't think spending is the problem? >> i think i have set a number of times that deficit reduction is not a goal unto itself. the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone likes 50% more... [ midwestern/chicago accent ] cheddar! yeah! 50 percent more [yodeling] yodel-ay-ee-oo. 50% more flash. [ southern accent ] 50 percent more taters. that's where tots come from. [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase plus a 50% annual bonus on the cash you earn. it's the card for people who like more cash. 50% more spy stuff. what's in your wallet? this car is too small. >> all that hard work was worth more than just the election. millions out at the polls in this election. today i'm proud our friends our friends and supporters are launching organizing for action. liz: the president's campaign just gained personal in
how the obama campaign is pushing its agenda with your private information. plus, how can washington ever get a handle on spending if they don't think spending is the problem? >> i think i have set a number of times that deficit reduction is not a goal unto itself. the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone likes 50% more... [ midwestern/chicago accent ] cheddar! yeah! 50 percent more [yodeling] yodel-ay-ee-oo. 50% more...
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Jan 26, 2013
01/13
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but what happens to spending cuts? how much spending cuts have been put on the table he accused the republicans of not want agency balanced approach and then the revenues are increased for go, where the spending cuts? i can't believe the success they have in turning the tables where they're the ones who don't want to have balanced approach. how much spending cuts have we gotten? i want to say -- >> the question is -- to go forward, the republicans? >> i'm sorry. >> the sequester -- >> i didn't answer your question completely because i don't take to these billionaires because i don't know them. i grew up in wisconsin, 5,000 people. the towns around me were so mall my contemporaries thought they left in a town called resume speed. the guys i hunted with in high school and i don't know that many millionaires and billionaires because i just love my friends the way they are. but i think what should happen is all us should get together and as a great lakes around this table, say would we borrow money from china to send one m
but what happens to spending cuts? how much spending cuts have been put on the table he accused the republicans of not want agency balanced approach and then the revenues are increased for go, where the spending cuts? i can't believe the success they have in turning the tables where they're the ones who don't want to have balanced approach. how much spending cuts have we gotten? i want to say -- >> the question is -- to go forward, the republicans? >> i'm sorry. >> the...
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Jan 28, 2013
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you had $1 trillion in tax increases with obama care. new tax increases at the beginning of this month. and now they are calling for even more tax increases, and they are not calling to cut spending. they are calling for spending increases. so basically what they're saying is, they want americans to pay more so washington can spend more. that's not going to help the economy, and that is not going to close the gap and balance the budget. the reason we want to balance the budget is not to make the numbers add up. we think that's necessary for growth and opportunity. we think it's necessary to make sure that our kids don't get this debt that they won't be able to handle if we keep going down the path we are on. >> but there are certainly those in the white house who would take issue with what you said or might even say to use your own criticism that's a straw man argume argument. they were prepared to cut additional spending to be part of a bigger agreement that republicans weren't able to agree to. there is more room for spending cuts. it'
you had $1 trillion in tax increases with obama care. new tax increases at the beginning of this month. and now they are calling for even more tax increases, and they are not calling to cut spending. they are calling for spending increases. so basically what they're saying is, they want americans to pay more so washington can spend more. that's not going to help the economy, and that is not going to close the gap and balance the budget. the reason we want to balance the budget is not to make...
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Jan 26, 2013
01/13
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president obama wants to spend more on education. that's tough. so these cuts go into effect, but they might find very quickly that it's very difficult to actually implement them. >> last thing here to you, chris, we're hearing about a couple of senators not going to be -- not going to seek re-election. talking about harkin, saxby chambliss. chambliss cited the gridlock in washington as part of the reason him wanting to step away. get your reaction to both of these men not seeking re-election. and also what are your thoughts on chambliss actually citing what's happening in washington as part of the reason for him wanting to get out of there? >> i think what we're seeing right now is a generational change in washington. chambliss and harkin and guys like that are part of that change. and it's interesting particularly in chambliss's case as you point out he does cite the partisan gridlock. but he's also part of that old republican guard. he's very close friends with house speaker john boehner for example. i think you're going to see as the republica
president obama wants to spend more on education. that's tough. so these cuts go into effect, but they might find very quickly that it's very difficult to actually implement them. >> last thing here to you, chris, we're hearing about a couple of senators not going to be -- not going to seek re-election. talking about harkin, saxby chambliss. chambliss cited the gridlock in washington as part of the reason him wanting to step away. get your reaction to both of these men not seeking...
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Jan 27, 2013
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the tax and spend and big government approach has always failed. so our job as conservatives is to make sure americans know that. and we need to show it with real people and real faces. >> but a lot of this we have to remind ourselves is about economic growth. what makes the economy grow, what gets people back to work, and what role does washington play in that? >> we know how to get out of tough times. we got out of the great depression by investing in what we wanted to be as a country, by investing in jobs rather than focusing on our fears. you know, i would push back and say that the big issues of this day also include marriage equality. they include comprehensive immigration reform. and right now when you look at joblessness in this country, you know, the country is back to pretty much where it was when this president started. white people in this country are doing a bit better. black folks are doing a full point worse. so with this president having said to us we need to invest in strategies to lift all boats, now that some boats are clearly mo
the tax and spend and big government approach has always failed. so our job as conservatives is to make sure americans know that. and we need to show it with real people and real faces. >> but a lot of this we have to remind ourselves is about economic growth. what makes the economy grow, what gets people back to work, and what role does washington play in that? >> we know how to get out of tough times. we got out of the great depression by investing in what we wanted to be as a...
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Jan 24, 2013
01/13
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cuts and the obama administration is not going to give it to them. and you are going to watch the u.s. do crazy, crazy things this year. >> if you are right on those crazy, crazy things, then the rest of us are in for a dreadful, dread full time? >> dreadful. it is going to be so strange for the richest country on earth to cross their arms and say i'm not paying. imagine crossing your arms. you are going to see it this year. >> reporter: now, we have been asking our guests here for the riskometer. on this side we have is the u.s. a bigger threat to global growth in 2013. on this side the e.u. lutnic thinks the u.s. is by far the bigger. as you look overall most people still seem to believe europe is the biggest threat in 2013. by the way, speet tweet me wher think the biggest threat is. >> very official looking. did you make that yourself? >> don't you mock it? it works and it is doing a good job. >> we will have people tweet you and see what they feel about all of this but a lot of power players weighing in on whether or not there is greater risk he
cuts and the obama administration is not going to give it to them. and you are going to watch the u.s. do crazy, crazy things this year. >> if you are right on those crazy, crazy things, then the rest of us are in for a dreadful, dread full time? >> dreadful. it is going to be so strange for the richest country on earth to cross their arms and say i'm not paying. imagine crossing your arms. you are going to see it this year. >> reporter: now, we have been asking our guests...
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and they don't agree about military spending. they don't agree about what taxation should be, on and on and on. gun control. they don't agree. and on the other hand, you know, we have this sort of slow economy that makes it more difficult to cut a deal. and i should add to that a constitutional crisis, in a way, because this whole debt ceiling has been a weapon that the house of representatives has used to gain power. it's not just the republicans versus the democrats. it's the house versus the president. >> meanwhile, these markets are on fire. another good week for the market. the s&p 500 hitting a new five-year high. what is driving stocks? and do you think it's sustainable for the year? some of the risk has been pulled out of the of the market. so the most recent is three months. some of the ris ks. and maybe just that the election isn't determined. maybe some are happy. some are, some aren't. but it's solved. markets don't like uncertainty. so even though it wasn't very likely the european union would fall apart, even though
and they don't agree about military spending. they don't agree about what taxation should be, on and on and on. gun control. they don't agree. and on the other hand, you know, we have this sort of slow economy that makes it more difficult to cut a deal. and i should add to that a constitutional crisis, in a way, because this whole debt ceiling has been a weapon that the house of representatives has used to gain power. it's not just the republicans versus the democrats. it's the house versus the...
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downgrades, falling revenues and perpetual increases in mandatory spending. instead, the president is teeing up partisan legislative battles with republicans in hopes of -- but as a measurement of the president's seriousness, his second inaugural address can only be seen as a grand failure that missed yet another historic opportunity to call americans together in the name of shared sacrifice. and richard haass, there is another opportunity, which would be the state of the union which i'm sort of banking on. >> traditionally inaugurals are the poetry, and then the state of the union becomes the prose. and the president did not prepare for educate the american people about some of the tough decisions to come, particularly on medicare and medicaid. so the real question going forward for the state of the union is whether he essentially addresses that. and whether he -- because we've still got more than, i think, more than $2 trillion in serious cuts to be made to entitlements over the next decade. and we've done a lot of the tax. we really can't get there through
downgrades, falling revenues and perpetual increases in mandatory spending. instead, the president is teeing up partisan legislative battles with republicans in hopes of -- but as a measurement of the president's seriousness, his second inaugural address can only be seen as a grand failure that missed yet another historic opportunity to call americans together in the name of shared sacrifice. and richard haass, there is another opportunity, which would be the state of the union which i'm sort...
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purse term is spend more borrowed money now the bills are going to come do we planted all these seeds of destruction that are going to germinate in a second term plus we're actually going to have to start paying for obama care and other programs that were launched in his first term but are kicking in a second so there are people who think that this is going to be where obama could really write his legacy because he doesn't have to deal with a bad economy anymore he's going to be trying to fight off this recession which is going to be worse than the one that he inherited now peter we only have about thirty seconds left i do want to point this out that because it sounds like you have a very pessimistic view a gloomy view of what's to come i want to mention though that the stock market has surged more than six percent this year breaking a record that's a good sign and fifteen seconds or less and for all the wall street has a pretty good track record of getting it wrong you know the stock market was rallying right before the bottom dropped out in two thousand and eight so the big people o
purse term is spend more borrowed money now the bills are going to come do we planted all these seeds of destruction that are going to germinate in a second term plus we're actually going to have to start paying for obama care and other programs that were launched in his first term but are kicking in a second so there are people who think that this is going to be where obama could really write his legacy because he doesn't have to deal with a bad economy anymore he's going to be trying to fight...